Volaris Lands IPO at Bottom of the Range

Volaris Lands IPO at Bottom of the Range

Mexico Equity

Mexico's Volaris should raise almost $400m from its IPO after pricing Tuesday night at the bottom of the range. The demand was said to reach more than 1x Tuesday afternoon. The issuer priced its ADS, representing 10 common shares, at $12.00 each, suggesting a $398m size if a 15% greenshoe is used. Volaris was to sell the equivalent of 173.1m primary shares and 115.3m secondary shares, not counting the greenshoe, with about 75% expected to be sold in an international tranche in the form of ADS an

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